Dear Monica: We have been looking to buy a house and wonder if the market is slowing at all. Do you think it has? James T.
Dear James: Yes, overall the market has softened depending on the price range. There have been several price reductions in the past weeks which has often ended in a sale that is above the reduced price. There are many buyers still in the market and they are very price-sensitive but willing to overbid if needed.
The market will likely fluctuate for the next period but it is far from dead. Buyers want a property that doesn’t need any or much work, and if it is priced well, they will step up.